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$20 BILLION CHICAGO CUSTOMER SUES SALOMON BROTHERS

 $20 BILLION CHICAGO CUSTOMER SUES SALOMON BROTHERS
 CHICAGO, Nov. 20 /PRNewswire/ -- Four Chicago-based partnerships,


along with their general partners, introducing broker and trading advisor, filed suit today in Chicago. The suit alleges that the firms were hurt by the improper activities of Salomon Brothers Inc, which became public earlier this year.
 The suit charges that Salomon violated U.S. Treasury rules, as well as federal securities, commodities, antitrust and racketeering (RICO) laws. The suit also charges that Salomon committed common law fraud and violated its fiduciary responsibilities to customers.
 "We had hoped to avoid having to file," said Robert M. Hickey, president of Hickey Financial Services, Ltd., the trading advisor of the partnerships.
 "We have had a close working relationship with Salomon for over ten years," Hickey said. "As one of their largest customers in U.S. Treasury securities, we placed a tremendous amount of trust and faith in the people at Salomon. We have done roughly $15 billion to $20 billion in business with them in just the last 12 months or so. We originally hoped the entire matter could have been taken care of privately, but no real progress toward settlement was being made after eight weeks of discussion.
 "While ourselves and the general partners have been damaged by all this, it's the partnerships themselves that have been hurt the most," Hickey said. "Many of our partners are individuals, retirees or small businesses who have come to rely on our strong, consistent performance over the last ten years. It's in order to protect these people, as well as ourselves, that we found it necessary to file suit."
 The suit was filed today in Chicago in the U.S. District Court for the Northern District of Illinois.
 Plaintiffs are SWS Financial Fund A, SWS Financial Fund B, Apollo I and Apollo II, all Illinois limited partnerships; SWS Financial Services, Inc.; Stenhouse, Weiner, Sherman, Ltd.; and Hickey Financial Services, Inc.
 -0- 11/20/91
 /CONTACT: Roger Pascal of Schiff Hardin & Waite, attorneys for the plaintiffs, 312-258-5663/
 (SB) CO: Salomon Brothers Inc; Hickey Financial Services, Inc.; ST: Illinois, New York IN: FIN SU:


GK -- NY070 -- 5503 11/20/91 14:42 EST
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Publication:PR Newswire
Date:Nov 20, 1991
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